OmegaPro
A global multi-level-marketing scheme that sold 'investment packages' promising 300% returns over 16 months from purported forex trading, paid in crypto. Per the U.S. DOJ it raised over $650M from thousands of investors, then collapsed in 2022 blaming a 'hack'; founders were indicted in 2025.
Also known as: OmegaPro, Omega Pro, Broker Group, Michael Shannon Sims, Juan Carlos Reynoso, Andreas Szakacs
Summary
OmegaPro, established around 2019, operated as a multi-level-marketing (MLM) program in which investors bought "investment packages" using cryptocurrency, falsely promised about 300% returns over 16 months from elite "forex" traders. The U.S. DOJ says it was a fraud that raised over $650 million from thousands of investors worldwide (some reporting put claimed figures far higher). [1][2]
Collapse and charges
OmegaPro blocked withdrawals in late 2022 and then claimed it had suffered a network "hack," telling victims their funds were being moved to a new platform, "Broker Group"; investors could not withdraw from either. In July 2025 a U.S. indictment charged founder/promoter Michael Shannon Sims and Latin America operations lead Juan Carlos Reynoso with wire-fraud and money-laundering conspiracies (each carrying up to 20 years); co-founder Andreas Szakacs had been arrested in Turkey in 2024. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.